24th Apr 2008 09:26
ETFS Commodity Securities Limited24 April 2008 23 April 2008 ETFS Commodity Securities Limited - RIS Announcement Changes to the Trust Instrument and Conditions of Commodity Securities On 23 April 2008 ETFS Commodity Securities Limited (the "Issuer") and LawDebenture Trust p.l.c. (as the trustee for the holders of the commoditysecurities of the Issuer issued pursuant to the Prospectus of the Issuer dated18 September 2007) (the "Trustee") entered into a second supplemental trustinstrument (the "Second Supplemental Trust Instrument") which is supplemental tothe trust instrument dated 21 September 2006 between the Issuer and the Trusteeas supplemented by a first supplemental trust instrument dated 17 September 2007(the "Principal Trust Instrument"). Pursuant to the Clause 33.2 of the Principal Trust Instrument, the Issuer andthe Trustee can agree amendments to the Principal Trust Instrument if they areof the opinion that such changes are of a formal, minor and/or technical natureand/or are to correct a manifest or proven error and/or are necessary ordesirable to rectify an inconsistency and/or technical defect and/or manifesterror and/or ambiguity in the Principal Trust Instrument and the conditions ofthe Commodity Securities contained therein (the "Conditions"). By the Second Supplemental Trust Instrument certain amendments have been made tothe Principal Trust Instrument and the Conditions (as set out below) and theIssuer and the Trustee have both confirmed that they are of the opinion thatthese changes are of a formal, minor and/or technical nature and/or are tocorrect a manifest or proven error and/or are necessary or desirable to rectifyan inconsistency and/or technical defect and/or manifest error and/or ambiguityin the Principal Trust Instrument and the Conditions. Additionally, in accordance with Clause 26 of the Principal Trust Instrument theTrustee has waived the requirement for prior notice of these changes to be givento holders of the Commodity Securities and such changes are now effective. Changes to the Principal Trust Instrument and the Conditions: The Principal Trust Instrument and the Conditions have been amended as follows: 1. the substitution for the words "At any meeting" at the beginning of paragraph 3 of the Fourth Schedule to the Principal Trust Instrument of the words "Subject to the provisions of paragraph 4, at any meeting"; 2. the deletion of the words and brackets "(or any adjournment thereof)" each time they appear in paragraph 3 of the Fourth Schedule to the Principal Trust Instrument; 3. the deletion of the words and brackets "(on the date of the meeting or if no Price was determined on that date, the most recently determined Price)" each time they appear in paragraph 4 of the Fourth Schedule to the Principal Trust Instrument; 4. the substitution for the existing text of paragraph 21 of the Fourth Schedule to the Principal Trust Instrument of the following: 'The expression "Extraordinary Resolution" means in respect of a particular type or particular types taken together of Micro and Commodity Securities either (a) a resolution passed at a duly convened meeting of the holders of Micro and Commodity Securities of such type or types and carried by a majority consisting of the holders of not less than 75 per cent. by Price (or if no Price was determined on the day of that meeting, the most recently determined Price) of the Micro and Commodity Securities of such type or types voting on such resolution or (b) a resolution in writing of holders of such type or types of Micro and Commodity Securities holding not less than 75 per cent. by Price (as at the date of the last signature (or if no Price was determined on that date, the most recently determined Price)) of such type or types of Micro and Commodity Securities, and in the cases of (a) and (b), where so provided for herein or in the Conditions, holders of Index Securities or Individual Securities may for these purposes be treated as holders of the relevant type or types of Micro Securities comprised therein.'; 5. the substitution for the definition of "Extraordinary Resolution" in Condition 1.1 of the following: 'Extraordinary Resolution means in respect of a particular type or particular types taken together of Micro and Commodity Securities either (a) a resolution passed at a duly convened meeting of the holders of Micro and Commodity Securities of such type or types and carried by a majority consisting of the holders of not less than 75 per cent. by Price (or if no Price was determined on the day of that meeting, the most recently determined Price) of the Micro and Commodity Securities of such type or types voting on such resolution or (b) a resolution in writing of holders of such type or types of Micro and Commodity Securities holding not less than 75 per cent. by Price (as at the date of the last signature (or if no Price was determined on that date, the most recently determined Price)) of such type or types of Micro and Commodity Securities, and in the cases of (a) and (b) where so provided for in the Trust Instrument or these Conditions, holders of Index Securities or Individual Securities may for these purposes be treated as holders of the relevant type or types of Micro Securities comprised therein.'; 6. the substitution for the words "amend any of the Trustee Consent Documents" in Condition 30.2 of the words "amend the Trust Instrument, any Security Deeds or any of the Trustee Consent Documents"; 7. the substitution for the word "CSL" in Condition 30.2(d)(i) of the words "the Issuer"; 8. the substitution for the word "Rebalancing" in Condition 30.2(e)(i) of the words "substitution of the index" and for the words "being Rebalanced" of the words "which are the subject of the substitution"; 9. the substitution for the words and brackets "Conditions (f) and (g)" in Condition 30.2(i) of the words and brackets "Conditions (f) to (h)"; 10. the substitution for the reference to "Condition 30.2(b)" in Condition 30.4 of reference to "Conditions 30.2(a) and (b)"; 11. the substitution for the reference to "Condition 30.2(f) to (i) (inclusive)" in Condition 30.6 of reference to "Condition 30.2(f) to (j) (inclusive)"; 12. the substitution for the word "Document" each time it appears in Condition 30.7 of the words "Trustee Consent Document"; 13. the insertion of the words "the prior written" before the words "consent of the Trustee" in Clause 33.1 of the Principal Trust Instrument; 14. the substitution for the words "Replacement Mechanism" in Clause 33.2(d) of the words "Replacement mechanism"; 15. the insertion of a new Clause 33.2(e) as follows (and the renumbering of Clauses 33.2(f) to (i) accordingly): "(e) the amendment is to substitute a different forward commodity index for the DJ-AIGCI-F3SM and its sub-indices and consequential changes provided that: (i) the adjustments so agreed have the consequence that at the time of the substitution of the index there is no change to the value of the Index Securities which are the subject of the substitution; and (ii) the adjustments do not take effect until at least 30 days have elapsed after they are announced to Security Holders in an RIS announcement; "; 16. the substitution for the reference to "Clause 33.2(a)" in Clause 33.4 of reference to "Clause 33.2(a) and (b)"; and 17. the substitution for the word "Document" each time it appears in Clause 33.7 of the words "Trustee Consent Document". Background about ETFS Commodity Securities ETFS Commodity Securities are financial instruments designed to enable investorsto gain exposure to a total return from an investment in individual commodities(through Individual Securities) or baskets of commodities (through IndexSecurities) similar to the returns from investing in futures contracts.Commodity Securities were first listed on the SETSmm platform of London StockExchange on 27 September 2006. They provide investors with an exposure similarto that which an investor could achieve by managing an unleveraged long positionin near-term futures contracts. The Issuer currently has US$3 billion in assetsunder management. Administration services are provided to ETFS CommoditySecurities Limited by ETF Securities Limited whose team now offer over 100different types of exchange traded commodities listed on five European exchangeswith assets under administration totalling US$5.3 billion. For more information: • www.etfsecurities.com • info@etfsecurities.com • London Representative Office: +44 20 7448 4330 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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